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    Property profile & analytics

    614 Main St Chattanooga, TN 37408

    • Warehouses
    • 10,205 SF
    • 0.42 lot acres
    For Sale
    View listing
    $5,500,000
    Last Sale
    Aug 23, 2021
    $1,200,000
    Value Estimations
    Cap Rate Potential
    4.1%
    Warehouses
    Location Intelligence
    Property ID
    US80-0781684
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 614 Main St

    Year built
    1900
    Lot size
    0.42 lot acres
    Property size
    10,205 SF
    Zone code
    C2
    Property type
    Warehouses
    APN
    145L J 017
    APU
    145LJ017

    Description

    This exceptional 1,350 square foot creative office space, located at 614 E Main St, Unit 102, Chattanooga, TN 37408, is situated in a newly renovated 1890 building. Boasting a prominent Main Street storefront with large windows, this single-tenant space is ideal for retail, a salon, artist's studio, or office. The unit features soaring 18-foot ceilings, polished concrete floors, and abundant natural light. Its versatile design allows for live/work potential, thanks to its Urban Commercial X (UCX) zoning. One dedicated parking space is included, with convenient street parking also available. Modern amenities include an energy-efficient mini-split HVAC system and Cat5 cabling. The property sits on 0.42 acres and is part of a three-building, two-story complex. Power is provided by EPB. This Southside location offers easy access to Chattanooga's dining, shopping, and entertainment. The property's APN is 145l J 017. This unique opportunity combines historic charm with modern convenience, making it a perfect location for a thriving business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,525,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,040,000
      6.5%
      $960,000
      7%
      $890,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $915,000
      Market price range: $329k - $1.60M
      AI Estimate
      $915,000
      Market price range: $329k - $1.60M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $850,000
      Current use
      COMMERCIAL (GENERAL)
      $1,845,000
      Change: +117% Conversion: Difficult
      RETAIL STORES
      $1,240,000
      Change: +46% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.2995
    Latitude
    35.0328
    CBSA code
    16860
    CBSA name
    CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,020
    $0.00
    $0.00
    $224,360
    -
    $449,700
    $111,200
    $560,900

    Comparable in this City

    • Value Estimation
      $1,110,000
      18,090 SF

      1900 Central Ave

      WAREHOUSE, STORAGE • 18,090 SF
      1900 Central Ave, Chattanooga, TN 37408-2223
      View Details
    • Value Estimation by Request
      12,446 SF

      301 18th St

      WAREHOUSE, STORAGE • 12,446 SF
      301 18th St, Chattanooga, TN 37408-2007
      View Details
    • Value Estimation
      $2,240,000
      43,120 SF

      3000 Broad St

      WAREHOUSE, STORAGE • 43,120 SF
      3000 Broad St, Chattanooga, TN 37408-3069
      View Details
    • Value Estimation
      $1,175,000
      24,723 SF

      1601 Broad St

      WAREHOUSE, STORAGE • 24,723 SF
      1601 Broad St, Chattanooga, TN 37408
      View Details
    • Value Estimation
      $725,000
      6,600 SF

      1905 Long St

      WAREHOUSE, STORAGE • 6,600 SF
      1905 Long St, Chattanooga, TN 37408-1743
      View Details
    • Value Estimation by Request
      5,600 SF

      2320 Gifford St

      WAREHOUSE, STORAGE • 5,600 SF
      2320 Gifford St, Chattanooga, TN 37408-2305
      View Details

    Similar Nearby for Sale

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      South Broad Street Commercial Land

      Prime Chattanooga corner lot, high traffic.
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      Multi-family property in Chattanooga's Southside district with redevelopment potential.
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    • $610,000
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      Modern Mixed-Use Commercial Space

      Versatile commercial space in a vibrant, growing Chattanooga neighborhood.
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      Luxurious 3-bedroom townhome with modern amenities and two-car garage.
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    Similar Nearby for Lease

    • $28,800
      22,216 SF

      Chattanooga Commercial Land for Lease

      ½ Acre Lot, $1200/Month, Fenced
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      View Details
    • $20 SF/Yr
      2,100 SF

      Southside Chattanooga Commercial Gem

      Historic Filling Station, Huge Potential
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      View Details
    • $1,700 /Mo
      15,557 SF

      Office Space Near Downtown Chattanooga

      Office spaces available near downtown, walkable to amenities.
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    • $25 SF/Yr
      23,904 SF

      Prime Chattanooga Southside Retail Space

      Retail and restaurant spaces in a dynamic Chattanooga neighborhood.
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      View Details
    • $20 SF/Yr
      2,100 SF

      South Side Creative Office Space

      Historic building, prime location, high potential.
      2001 Long St, Chattanooga, TN 37408
      View Details
    • Contact for pricing
      6,614 SF

      Chattanooga Southside Retail Space Available

      Retail spaces available in Chattanooga's Southside landmark building.
      615 East Main Street Ext, Chattanooga, TN 37408
      View Details
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    614 Main St
    Chattanooga, TN 37408
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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